Events that moved the market Q3 2018
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5 Jul 2018Source: Bloomberg NewsChinese stocks set back 2 yearsThe Shanghai Composite Index closes at its lowest level since March 2016, in anticipation of US tariffs.
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9 Jul 2018Source: Bloomberg NewsTurkish crisis deepensTurkish President Erdogan appoints his son-in-law as economy czar. The lira plunges the most since a failed coup in 2016.
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12 Jul 2018Source: Statistics SASA mining output sinks furtherSA mining production is 2.6% lower than a year ago. The largest negative contributors are gold, which fell by 16.2%, and coal, down 4.2%.
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31 Jul 2018Source: Statistics SASA unemployment risesSA unemployment rises to 27.2% with most jobs lost in the manufacturing of basic metals sector as well as food and beverages.
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10 Aug 2018Source: Financial TimesTurkish Lira in turmoilThe Turkish Lira drops almost 6% in one week on comments by President Erdogan that he plans an ‘operation’ against Moody’s as it reviews Turkey’s credit rating. Other emerging market currencies, such as the Rand, are punished alongside the Lira.
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15 Aug 2018Source: Bloomberg NewsCopper below $6000The price of copper – an indicator of the demand for global resources - falls to $5 928 a metric ton, the lowest level in more than a year.
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15 Aug 2018Source: BloombergTencent and Naspers tumbleTencent releases its first profit drop in at least a decade, reflected by a market value loss of more than $160 billion since its January peak. One of the reasons for the decline in profit has been the freeze on game approvals in China.
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15 Aug 2018Source: fin24Rand falters on Moody’s releaseThe Rand weakens on a Moody’s statement that it sees the country’s fiscal deficit at about 4% of GDP in the year to March 2019.
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29 Aug 2018Source: BloombergUS growth at 4.2%The US economy grows at a slightly faster pace than previously estimated on revisions to imports and software spending, bolstering the strongest period of growth since 2014.
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31 Aug 2018Source: BloombergArgentine Peso plummets furtherArgentina raises interest rates to 60%, the highest in the world, after the currency loses nearly 20% of its value in the preceding week. Inflation is above 30%.
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4 Sept 2018Source: Statistics SASA in recessionSA enters its first technical recession in 9 years, with agriculture the main driver behind the decline.
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7 Sept 2018Source: BloombergUS wages at strong levelsThe US wage bill is up 2.9% and the number of employees on payroll up 201 000.
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11 Sept 2018Source: Bureau for Economic ResearchSA business confidence pulls backThe RMB BER gauge drops to 38 in the third quarter of 2018. All sectors surveyed are under the neutral level of 50, an infrequent & worrying development, according to RMB & the BER.
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11 Sept 2018Source: Statistics SASA manufacturing is upManufacturing production increases by 2.9% in July, boosted by growth in vehicle and parts sales.
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12 Sept 2018Source: Statistics SASA retail sales upRetail trade sales for July grow by 1.3%
year-on-year in real terms - with appliances and clothing indicating significant growth. -
19 Sept 2018Source: Statistics SASA inflation at 4.9%Annual consumer inflation for August comes in at 4.9%, easing pressure on the SA Reserve Bank's Monetary Policy Committee to hike rates.
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19 Sept 2018Source: BloombergUK inflation steps upUK inflation unexpectedly accelerates to a
six-month high in August, boosted mainly by the recreation and culture sector, where prices jumped 3.6%, the most since 2010. -
20 Sept 2018Source: BloombergUS stocks touch new highsThe S&P 500 Index soars to a record close - led by the technology, health-care and financial sectors.
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25 Sept 2018Source: ReutersOil price on the riseBrent oil soars to close to $81, reaching the highest level since November 2014 after OPEC and other global producers snub pressure from US President Donald Trump to dampen prices.
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26 Sept 2018Source: CNBCUS rates to rise rapidlyThe Fed raises the federal funds rate to the 2-2.25% range and indicates that one more hike is in store for 2018; three for 2019.
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27 Sept 2018Source: Bloomberg NewsGerman inflation spikesGerman inflation unexpectedly accelerates to a four-month high, suggesting the rate in the Eurozone will rise further above the ECB’s goal.
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